Can I buy Samvardhana Motherson International now for long-term? What is the outlook?
Sophia, Kochi
Samvardhana Motherson International (₹118.10): The stock is in a downtrend since October last year. The downtrend is still intact. There is room for further fall to ₹100-90 – an important long-term support zone. A fall beyond ₹90 is less likely. So, after this fall a fresh leg of rally is possible. This new upmove from the ₹100-90 support zone can gain momentum on a subsequent rise above ₹150.
That in turn can take the stock up to ₹250 over the next couple of years. Buy Samvardhana Motherson International on dips at ₹105 and ₹95. Keep the stop-loss at ₹75 initially. Trail the stop-loss up to ₹120 when the price goes up to ₹160. Move the stop-loss further up to ₹190 when the share price touches ₹220. Exit the stock at ₹250.
I have bought Arrow Greentech shares at ₹678. Can I continue to hold? What is the outlook?
Manju Kabra, Goregaon
Arrow Greentech (₹589): The stock peaked at ₹1,098 in November last year and has come down sharply from there. This fall is a correction within the broader uptrend. A strong support is coming up in the ₹480-470 region which can halt the fall. A fresh rise from this support zone will indicate the resumption of the broader uptrend. It can then take Arrow Greentech share price up to ₹1,100 over the next three-four quarters.
Buy more and accumulate at ₹490. Keep the stop-loss at ₹420. Revise the stop-loss up to ₹630 when the price goes up to ₹720. Move the stop-loss further up to ₹860 when the share price touches ₹980. Exit the stock at ₹1,050. A break below ₹470, can drag the stock to ₹350-300. So, adhere to the stop-loss and exit at ₹420.
I have Wockhardt shares bought at ₹1,290. What is the outlook?
Pradeep, Patna
Wockhardt (₹1,319.30): The stock has been oscillating inside a broad range of ₹1,100-1,700 since November last year. This price movement on the weekly chart indicates the danger of a double-top pattern formation. So, you may have to be very careful. The level of ₹1,050 is very crucial. A break below it will confirm this pattern. It will then drag the stock down to ₹950 or even ₹800 thereafter.
The stock has to breach ₹1,700 to regain the bullish momentum. Only then ₹2,100 and higher levels will come into the picture. The outlook is not very clear now. You can consider two options. One, exit the stock at current levels with a small profit. Second option will be to keep the stop-loss at ₹1,020 and exit at ₹1,650 if a further rise is seen.
What is the outlook for Jubilant Foodworks?
Mangesh Sri
Jubilant Foodworks (₹685): The long-term outlook is bullish. Cluster of supports are there in the ₹580-500 region. As long as the stock stays above this support zone, a rise to ₹880 is possible in the coming months. From a multi-year perspective, Jubilant Foodworks share price has potential to target ₹1,200-1,300. This rally may happen over the next two-three years.
If you are a long-term investor, buy Jubilant Foodworks shares now. Accumulate on dips at ₹590 and ₹540. Keep the stop-loss at ₹390. Trail the stop-loss upto ₹740 as soon as the stock goes up to ₹880. Move the stop-loss further upto ₹920 and ₹1,050 when the price touches ₹1,030 and ₹1,110 respectively. Exit the stock at ₹1,250. This view will go wrong if the stock breaks ₹500 and declines below ₹440 subsequently.
Send your questions to [email protected]
Published on April 12, 2025